SUI tests key $0.90 support after falling nearly 30% from September highs. Hashi launch introduces Bitcoin-backed lending with over $500 million committed capital. Samsung Wallet plans USDC s
SUI remains under pressure after a sharp pullback from September highs. The token trades near $0.91 and sits below the key $1 mark. Recent price weakness has raised concerns among traders. At the same time, several major developments continue building around the network. A pending Bitcoin finance launch and a large Samsung Wallet integration have created fresh optimism. These catalysts could help shape SUI's next move as investors watch support closely.
https://twitter.com/CryptoPatel/status/2114212859744039140SUI opened near $0.94 before sliding toward $0.91. The decline extends a correction that has erased nearly 30% from late September highs near $1.28. Many traders now focus on the $0.90 level. This area represents an important support zone. A daily close below that mark could increase selling pressure. Technical indicators remain mixed. The Relative Strength Index sits near 38. That reading suggests weakening momentum without reaching deeply oversold conditions.
Meanwhile, the MACD remains below zero, showing sellers still hold a short-term advantage. The $0.96 to $1.00 range has also become a challenge. Previous support has now turned into resistance. Buyers must reclaim that zone to improve sentiment. Some analysts remain optimistic despite current weakness. Crypto analyst Crypto Patel highlighted a longer-term breakout structure on the weekly chart.
Patel believes the $0.70 to $0.85 range offers a possible re-entry area. The analyst also outlined higher targets of $5, $10, and $20 during a future bull cycle. Institutional activity has slowed during recent sessions. Spot SUI exchange-traded funds recorded little movement between October 20 and October 22. Recent reports also showed limited fund flows. Even so, cumulative inflows remain near $24.2 million.
While price struggles, network activity remains healthy. Sui processed roughly 37.3 million transactions during the last 24 hours. Active addresses topped 119,000, while more than 20,000 new addresses joined the network. Liquidity data presents a different picture. DeFi total value locked has dropped to about $478 million. Stablecoin supply has also declined. Weekly decentralized exchange volume fell significantly during the same period.
Despite those challenges, upcoming developments could attract renewed attention. Hashi plans a phased mainnet rollout before October ends. The project enters launch with more than $500 million in committed capital and support from several industry participants. Hashi allows Bitcoin holders to unlock liquidity without moving BTC away from the Bitcoin network. Users can access hBTC on Sui for lending and borrowing activities.
Another major catalyst comes from Samsung Wallet. The platform plans to offer USDC on Sui across millions of Galaxy devices in the United States. Gasless transfers could lower entry barriers for everyday users. Combined with recent demonstrations exceeding 40 million transactions per second, these developments highlight growing network capabilities. While SUI faces near-term price pressure, upcoming launches may give investors renewed reasons for confidence.
